Want to purchase a short sale?

A short sale means the homeowner's lender consents to collect a reduced amount to release a mortgage. For more information, just contact me through my site or e-mail me. I'm happy to address questions you have regarding real estate short sales.

Purchasing a short sale in Jacksonville, North Carolina on your own is risky. Contact Choice Jacksonville Realty for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Many people hear the term "short sale" and automatically think of a seller that is in default and must sell their home fast to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In cases such as these the discounted price may in fact be consistent with current market values rather than below.

Are you ready to buy a short sale property?

  • Before making any purchase offers, do your research. Using an experienced real estate professional from Choice Jacksonville Realty to support your research of a property can help you make knowledgeable decisions. We can help reveal to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining these facts can help you determine how much to offer.
  • Get a real estate agent with short sale knowledge. Choice Jacksonville Realty can help expedite the transaction and make certain you're protected. Don't permit inexperience to impede the closing process. Put my experience and knowledge to work in your favor.

  • Even in the best of situations and with an experienced real estate agent, buying a short sale property will generally take longer than a typical real estate transaction. Know that many short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the terms of the sale. Commonly, your offer will go before a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when buying a short sale. The lender is selling the property just the way it is which means the lender won't be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Choice Jacksonville Realty, when I write an offer, I will be looking out for your interests first and foremost and will always advise you to make your offer contingent upon the inspection results.
When it's time to buy, whether it be a short sale or a typical home sale, Choice Jacksonville Realty can help. Apply my experience and knowledge of real estate to be certain that you're getting a fair deal and protect yourself during the complete transaction.